Money and the Prices in the Long Run and Open Economies

Economic Growth and Development
Student’s Name
Institutional Affiliation
Abstract
Economic prosperity is the hope of all governments around the world and what each of the government strives to achieve. This is because economic development leads to the improvement of people lives in the country as well as promote the wellbeing of the nation wholesomely. Through economic development, the country generates wealth thereby becoming self-sufficient. This paper looks at the state of economic development. The paper identifies the factors that spur economic growth to provide an accurate account of how countries grow economically. The role of the government in achieving this goal is emphasized greatly in the paper. Moreover, the paper looks at various ways through which economic growth is measured. GDP as a measurement of economic development is emphasized in the paper. The paper also looks at how countries, as well as companies, can achieve their strategic plans. Various readings from journals are used in the paper to help achieve the goals of the researcher.
Economic Growth and Development
Introduction
Countries in the world are differentiated due to various factors such as economic growth. Economic growth may be used to identify a state as either wealthy or poor. Economic growth is measured by looking at various elements that affect a country domestically as well as internationally. Countries develop in different phases due to many factors. For instance, European countri…